Allianz Asset Management GmbH Cuts Position in MakeMyTrip Limited $MMYT

Allianz Asset Management GmbH lessened its holdings in MakeMyTrip Limited (NASDAQ:MMYT) by 7.0% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 364,289 shares of the technology company’s stock after selling 27,319 shares during the quarter. Allianz Asset Management GmbH owned about 0.33% of MakeMyTrip worth $35,708,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WPG Advisers LLC purchased a new stake in MakeMyTrip in the first quarter worth about $28,000. Twin Tree Management LP purchased a new stake in shares of MakeMyTrip during the first quarter valued at approximately $29,000. Stone House Investment Management LLC purchased a new stake in shares of MakeMyTrip during the first quarter valued at approximately $49,000. Farther Finance Advisors LLC purchased a new stake in shares of MakeMyTrip during the second quarter valued at approximately $50,000. Finally, Signaturefd LLC grew its holdings in shares of MakeMyTrip by 40.9% during the first quarter. Signaturefd LLC now owns 930 shares of the technology company’s stock valued at $91,000 after buying an additional 270 shares during the last quarter. Hedge funds and other institutional investors own 51.89% of the company’s stock.

MakeMyTrip Trading Up 0.9%

Shares of MMYT stock opened at $89.02 on Friday. MakeMyTrip Limited has a 12-month low of $81.84 and a 12-month high of $123.00. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 18.35. The firm’s 50 day moving average is $96.94 and its 200 day moving average is $98.31. The stock has a market capitalization of $9.90 billion, a P/E ratio of 103.51 and a beta of 0.81.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Macquarie upgraded shares of MakeMyTrip from a “neutral” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Tuesday, June 24th. Citigroup cut their price target on shares of MakeMyTrip from $125.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Finally, Wall Street Zen cut shares of MakeMyTrip from a “hold” rating to a “sell” rating in a report on Friday, October 3rd. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, MakeMyTrip presently has a consensus rating of “Buy” and a consensus price target of $120.00.

About MakeMyTrip

MakeMyTrip Limited, an online travel company, sells travel products and solutions in India, the United States, Singapore, Malaysia, Thailand, the United Arab Emirates, Peru, Colombia, Vietnam, and Indonesia. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.